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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (11813)7/16/2001 4:08:17 PM
From: Lee Lichterman III  Read Replies (1) of 52237
 
Agree on all counts, especially the either way part. The problem with this week is so many news events that matter between economic data and earnings from 16 of the DOW stocks plus some big tech names. Seems order execution is speeding up as the close gets closer and closer. A lot of contracts flying by now. Bell just rang so now let's see which way they bias this in the 15 minute window.

I fear down is easier now that we lost the Momentum of Thursday's move up. With us so close to resistance, I figured if we had a shot at getting through it, we would need to ride that Mo Mo wave to do it. Pulling back first while good in a normal market, isn't so good when it is that strong of resistance IMO. Better to have punched through then retested it from the top side as we consolidated.

If the E-wavers are right and we are just doing an ending diagonal, then the 5 could start without any warning if I understand it correctly. I would rather have a nice clean C wave count to ring the bell at the top. -gggggg-

NQ futures still flat from the cash market close so we may end up evenly biased.

Challo - thanks for the read. I am building yet another computer but I still will use the AMD chip. I have yet to have a problem with them although I did get a bad board on my newest one as you know a few weeks ago. I knew better than to get the Abit board but I had to learn for myself. -ggg-

Good Luck,

Lee
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